"Net Red" Chafing Dish Reformed The Rivers And Lakes

At the beginning of the year, the "99 Fen" Chinese Restaurant Group announced that the "net red" sauerkraut fish hot pot "too two" announced that it was about to go to Hong Kong to be listed. Another "net red" chafing dish "conspired together" announced in December 24, 2019 that its 100th stores opened in the shop of the Huarun Times Square in Shanghai, which belonged to another Hong Kong stock listed company. While the market value of the "predecessor" bailing reached nearly 180 billion in early 2020.

In the past few years, the catering industry has contributed to the high growth rate, and has entered a period of high-speed iteration. As one of the most representative segments of catering industry, chafing dish is also facing the most intense competition environment.

According to the latest data from the National Bureau of statistics, in November 2019, the income of catering was 496 billion 400 million yuan, an increase of 9.7% over the previous year, an increase of 0.7 percentage points over October, and the growth rate was 1.9 percentage points higher than that of retail sales. In the 1-11 month, the catering revenue was 41896 billion yuan, up 9.4% from the same period last year, and the retail sales of goods amounted to 330976 billion yuan, an increase of 7.9%.

"China's catering industry exceeded 4 trillion and 500 billion yuan in 2019, 3 trillion and 800 billion yuan in 2017, and 4 trillion and 200 billion yuan in 2018. The upgrading of consumption and the fresh consumption of the new generation support the rapid development of China's catering industry. " In January 8th, Zhu Dan Peng, a food industry analyst, told the twenty-first Century economic report that at the same time of rapid development, homogenization is also getting higher and higher. "How to differentiate between brands, products and scenes and how to highlight their respective advantages is a very important work and arrangement for every enterprise."

In the past few years, the catering industry has contributed to the high growth rate, and has entered a period of high-speed iteration. - Gan Jun photo

Hot pot

"Our positioning for the consumer group is 25-35 of white-collar workers, or even more women. So there are more elements suitable for girls, such as milk tea. At the 100 store opening ceremony, Zhang Zhenwei, chief executive officer of catering business, said in an interview with the economic report twenty-first Century, "we are a brand of comparative group operation. Others do subtraction, we add. One of the two core elements is the consumption scenario, and the two is the upgrading of consumption. It is especially aimed at this group of people who are socially demanding, active, fond of communication and friends.

In June 2016, we put together a hot pot and milk tea combination mode to open the first store in Sanlitun, Beijing. Zhang Zhenwei said, "the first store is about second months away, and we are making profits." The milk tea is used as a diversion inlet to drive the consumption of hot pot. "Milk tea is a relatively high consumption mode, accounting for 20% of revenue, and some shops are still higher."

In the past three and a half years, a new store was opened every 13 days, and 27 cities in China were set up. In 2019, the average speed was increased to an average of 7 days.

According to the 2019 China Daily, the group of Siu Mei Siu Mei Group, the first half of 2019, 76 new sipping food restaurants and 13 scraping restaurants were opened. Revenue grew 27.4% to 2 billion 712 million yuan, mainly due to the expansion of the restaurant network. Continued efforts were made to develop high-end brands, and revenue grew 150.2% to 490 million yuan over the same period, resulting in a restaurant level operating profit of 68 million 800 thousand yuan.

Compared to Beijing's (revenue 43.7%), the parent company sipping sipping and feeding has taken different ways to expand the region. "When it comes to Fifth stores, it has already been stationed in the markets of North China, East China and Southern China. For the group, it is also easy to see that many brands go hand in hand and do not restrict development.

According to the financial report, it is also considered to be an example of accelerating market segmentation. "With the increase of per capita disposable income and the expansion of the middle class, the millennials are paying more attention to the quality of products and services." These changes urge the catering industry to develop towards diversification, specialization and brand orientation. The group is committed to the full penetration of all segments. As the group's high-end brand, it mainly focuses on family gatherings and business banquets.

From an external point of view, Zhang Zhenwei also thinks that he has chosen a race track that is different from other brands. "At the beginning of brand positioning, we have been trying to find a track that belongs to us. Second people will never know that they must be king in a circuit. We are actually very different from seabed. It is aimed at all consuming groups. We are doing market segmentation. Second is our development into commercial real estate. "

The market is still very fragmented for selecting two of the relatively vertical racetrack. According to its prospectus, the total market revenue of Chinese sauerkraut fish market reached RMB 12 billion 300 million yuan in 2018, accounting for only 0.3% of China's catering service market, with over 1000 restaurant operators. In 2018, the revenue of Tai two was 540 million yuan, ranking the first among all the sour fish fish restaurants, with a market share of 4.4%.

Covering all the consumers and the bigger volume of the seafloor, they began to do more. According to its 2019 China Daily, the first half of 2019 revenue was 11 billion 694 million yuan, an increase of 59.3% over the same period last year, and sales of milk tea and other drinks from seabed brand were launched, and 187 new dishes were launched.

Differentiated selection

"China's catering industry is entering the most intense" fighting time ", and the number of new shops and closes is almost the same at the same time. In January 8th, Roland Begg, partner Zhang Qiang, told an economic reporter in twenty-first Century that the average life expectancy of restaurants was about 2.7 years. "At present, it is hard to see that there is a catering company that can compare with the bottom of the sea to achieve standardized quality control and operation management capabilities, and it is difficult to make moat. The layout of multiple categories is not necessarily successful, but there is no more possibility of not doing it. We must make the main brand well. "

Roland Begg's "foresight 2020" industry trend report believes that the upgrading of the catering industry is reflected in the supply side showing the characteristics of dispersion of commodities, intense brand competition, regional market concentration, and the emergence of innovative modes. At the expense end, the new generation of consumer groups become more diversified.

Enterprises will focus on the three major initiatives to be bigger and stronger. First, we should complete the layout of multi category and multi brand businesses so as to achieve economies of scale. The two is to strengthen fine operation around the value chain to the front end: including single product entry, product strategy to create explosive products, brand strategy of brand pulling business, and store strategy to create subdivision scenes and enhance dining experience, and new retail, O2O and other business strategies. The three is to optimize the supply chain capabilities from the value chain to the back end, while helping the catering brand achieve resource integration, and carry out business innovation and breakthroughs.

Zhu Danpeng analysis, for the enterprise, the three key dimensions are service system, products and brand. "From the service system, the bottom fishing is the best, and the brand Bahai fishing is also doing well, but its products are not featured too much. Too two brand general, service system is not too outstanding, but product differentiation is more obvious, to some extent, there is room for growth, after all, stores are not too many, the biggest problem is that it lacks capital, which is why 99 Fen is eager to be listed as the core reason. "